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How To Get The Right Loan For You (UK)
Written by: Paul FlintoftArticle Overview: Like many businesses you may need to get some form of loan from a bank or other financial institution when you are in the early stages of setting up. Most lenders are generally interested in low risk borrowers so you will normally be expected to provide some form of collateral before they will agree to loan you any money.
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How To Get The Right Loan For You (UK)
Like many businesses you may need to get some form of loan from a bank or other financial institution when you are in the early stages of setting up. Most lenders are generally interested in low risk borrowers so you will normally be expected to provide some form of collateral before they will agree to loan you any money.
It is very important to remember that all banks and other lenders have different lending criteria’s, loan terms and interest rates so it is very important that you take the time to shop around, you can save yourself a lot of money in the long run. Special deals for start up businesses are always on offer as lenders compete to tap into this potentially lucrative section of the business market.
It is also very important that you seek advice from an accountant or other financial adviser before you apply for your loan. They will help you to present your loan application in the best way to help improve your chances of success.
What Type of Loan Should I Apply For?
You need to be very clear about the specific purpose of your loan and how long you need it for. This information will ensure that you get the loan that is suitable for you. For example a retailer may wish to borrow money but not begin to repay the loan for 60 days or until he has been paid for his goods and would like to have the loan on short term.
A manufacturer may wish to borrow money for new equipment but would like to pay back both interest and capital slowly and regularly, perhaps over a 10-year period.
Many businesses are unclear about how much they need to borrow. You should be completely realistic about this and also allow yourself room for manoeuvre, it can be wise to allow for contingency capital, in case problems arise in the future.
Your customers may pay late or your suppliers are delayed in fulfilling your order so it is better to allow a buffer zone to your loan rather than default in your payments at a later date or have to apply for an extension because something unexpected arose.
The Criteria That Lenders are Looking For?
Most lenders are looking for the same criteria, are you a low risk finance proposition? Remember the lenders' 4 Cs when they consider loaning you money:
• Character: Do you come across as confident enough in your ability to service this loan? Do you appear to know what you are talking about or do you seem unsure of your territory?
• Capacity: Will you be able to repay your loan?
• Collateral: Are you providing security against the loan?
• Capital: How much are you trying to borrow and is this amount realistic?
When you do secure your loan you must know what type of loan it is and how much it is going to cost you, and, if it is a variable rate loan and the impact and increase or decrease in the interest rates will have on your repayments.
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Re: Quick Ways To Utilize SEO Effectively
- 1. If you dont want too much competition from other SEO's, choose your keywords precisely.For example, Instead of keyword Loan choose keywords like Bank Loan, Equity Loan, Student Loan, Home Loan etc. Order of keyword also matter for search engines. Search engine treats ?Loan Equity? and ?Equity Loan? as different keywords.
2. Best seo practice is to get at least one of your primary keywords in domain or sub domain name of your website. You can use hyphens (-) to separate multiple keywords.
For example: seo-service, seo-guidelines, free-seo each cover two keywords.
3. Get your second or third keywords in your directory name and filename.
4. Keep your webpage free from any syntax error, declare document type at the beginning and validate your HTML and CSS because search engine don?t like pages with too many errors.
5. Give a short Title in of your page in 3-9 words (60-80 characters) maximum in length containing your primary keyword. Remember it will be displayed in search results so choose wisely.
6. Try to include your most important keyword phrases in heading tags on your page if you can but keep in mind it should not be exactly same as title of your page. You can use (H1 H2 H3) tag for specifying anything important. To reduce size of heading use CSS.
7. Specify Meta keywords in heading of document. Limit it to 15 to 20 words. Although not all the search engines give importance but there is no harm doing it. Search engine like Yahoo still give it importance.
8. Write Your Meta Description tag attractive containing keywords because it will appear on the search engine result pages.
9. Use text for navigation menu instead of using images or Java scripts.
10. Try to include your most important keyword in hyper linked text and text and text that immediately precedes or follows the hyperlink. Do not use same keyword always use synonyms at few places. Just like instead of seo, I have use search engine optimization at many places on this page.
Top performing Franchise Loans
- Evan,
There are over 120 Franchises listed by the SBA with 0% Loan Failure from 10-1-00 to 9-30-05 these companies have at leat 10 loans disbursed.
A number of the companies are Hotel/Motel Franchises so I listed them separately.
Since all the ones listed have 0% loan failure I listed them descending by # of loans disbursed.
Top 20 (by # loans Disbursed) 0% SBA Loan Failure (does not include hotels/motels)
1 21425--CULVER'S FROZEN CUSTARD 85
2 66910--PRIMROSE SCHOOL (DAYCARE) 76
3 14467--CARTRIDGE WORLD STORES 54
4 68021--QUIZNO'S SUBS 41
5 06560--AUNTIE ANN'S (SOFT PRETZELS) 40
6 29912--FIREHOUSE SUBS 35
7 31154--FOOT SOLUTIONS 35
8 52707--MEDICAP PHARMACY 35
9 09802--BEN & JERRY'S ICE CREAM 33
10 67759--COMFORT SUITES 33
11 70150--RITTER'S FROZEN CUSTARD 32
12 05650--ARBY'S 31
13 65160--PLATO'S CLOSET 31
14 67417--PUMP IT UP 30
15 69149--REMAX 30
16 71456--SALAD WORKS, INC. 30
17 76282--SONIC DRIVE-IN 27
18 84725--UNION 76 OIL 27
19 17049--CHRISTIAN BROTHERS AUTOMOTIVE 26
20 78950--SUNOCO SERVICE STATION 26
Top 10 0% SBA Loan Failure Hotel/Motels
1 10275--BEST WESTERN INN 104
2 67750--COMFORT INN 98
3 38605--HOLIDAY INN EXPRESS 87
4 36680--HAMPTON INNS 57
5 53165--MICROTEL 33
6 75385--SLEEP INN MOTEL 26
7 04160--AMERIHOST INN 18
8 69134--RED ROOF INN 13
9 17230--CLARION INN & SUITES 11
10 20715--COUNTRY INN 11
Should FDIC Worry about FHLB?
- What do you think the impact would be on the Bank Insurance Fund with Federal Home Loan Advances for business? Especially since you can obtain a grant when used in combination with FHLB advance. The grant can be used for anything you want for your business (down payment to a seller or franchise fees, working capital...etc.) This puts the borrower in a pretty good position.
Should FDIC worry about FHLB?
Money I made while in School
- While in university I did have a Student Loan (still paying that bugger off) and had a part-time job as a Call Center agent (inbound). *Canada*
I also designed websites (outsourced all the work). I just worked on getting new customers, managed the projects to completion and helped create Marketing Plans for my clients (Online and Offline). *Canada*
When I was studying the in the States I also made some money as a Part-time Flight instructor. *USA*
re: restaurant start-up
- I'm not sure about government grants for restaurants, but my recommendation would be to approach a lender that offers loans under the Canadian Small Business Financing Loan program where the government will guarantee 85% of the loan. You can borrow up to $250,000 to finance equipment and renovations under this program. Restaurants are very risky business, however some of the Chartered Banks will look at restaurants if there is enough of an initial equity investment and you have a solid business plan (experienced management team, good concept and strategic location).
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